Wells Fargo & Company Boosts WEX (NYSE:WEX) Price Target to $200.00

WEX (NYSE:WEX) had its target price upped by Wells Fargo & Company from $190.00 to $200.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the business services provider’s stock.

Several other research firms have also weighed in on WEX. Jefferies Financial Group upped their price objective on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. William Blair upgraded shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. dropped their price target on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Bank of America increased their price target on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $239.17.

WEX Stock Down 15.0 %

WEX stock opened at $181.11 on Monday. The firm has a market cap of $7.44 billion, a PE ratio of 31.33, a P/E/G ratio of 1.19 and a beta of 1.55. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50 day moving average price is $199.67 and its two-hundred day moving average price is $195.02. WEX has a twelve month low of $161.95 and a twelve month high of $244.04.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.09. The firm had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. On average, research analysts predict that WEX will post 13.68 EPS for the current fiscal year.

Insider Activity at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other WEX news, CFO Jagtar Narula sold 508 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert Joseph Deshaies sold 1,651 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the sale, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,905 shares of company stock worth $895,107. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On WEX

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of WEX by 5.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock worth $173,561,000 after acquiring an additional 48,182 shares during the period. Bessemer Group Inc. lifted its holdings in shares of WEX by 0.6% during the 1st quarter. Bessemer Group Inc. now owns 735,313 shares of the business services provider’s stock worth $174,660,000 after acquiring an additional 4,262 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of WEX by 34.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock worth $87,772,000 after acquiring an additional 126,663 shares during the period. Federated Hermes Inc. lifted its holdings in shares of WEX by 3.0% during the 2nd quarter. Federated Hermes Inc. now owns 402,365 shares of the business services provider’s stock worth $71,275,000 after acquiring an additional 11,821 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of WEX by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 378,969 shares of the business services provider’s stock worth $67,131,000 after acquiring an additional 17,989 shares during the period. 97.47% of the stock is owned by institutional investors.

About WEX

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.